FASB Expected to Come to Final Vote on Lease Standard
lease accountingmeeting handoutnumerousdetailsdifferenceWall Street Journalthere will be a significant length of time from issuance to implementation of Topic 842 (longer than that of most lending arrangements)." In addition, "many covenants use the concept of 'frozen' or 'semifrozen' GAAP whereby changes in GAAP will not, in isolation, cause an entity to violate a debt covenant" and "The Board’s decision that operating lease liabilities are operating obligations rather than debt."
